Letterboxd Is Up for Sale, and A24, Sony and the New York Times Are Bidding
Letterboxd is reportedly up for sale with a $300 million asking price, drawing interest from suitors including The New York Times, A24, and Sony Pictures.
summary is enough The article covers standard acquisition news, while the comment thread provides valuable skepticism regarding conflicts of interest and platform enshittification.
summary
Letterboxd has grown rapidly to 30 million users and is seeking a buyer with an asking price exceeding $300 million. Major media and film entities like The New York Times, A24, and Sony Pictures have emerged as interested bidders. This potential sale has sparked widespread concern among users regarding conflicts of interest, corporate enshittification, and the loss of independent film reviews. Commenters also questioned the quick turnaround by current holding company Tiny.
key points
- Letterboxd's user base exploded from 1.8 million in 2020 to 30 million users.
- The platform's asking price exceeds $300 million, roughly 20 times its projected $15 million earnings.
- Potential buyers include industry players like A24, Sony Pictures, and The New York Times, raising major conflict-of-interest concerns.
who should read it
Film enthusiasts, creators, and tech industry observers tracking media consolidation.
discussion skeptical
consensus
Commenters widely agree that a studio acquisition creates an unacceptable conflict of interest for a review platform, drawing negative comparisons to IMDb and Goodreads.
pushback
A minority view points out that a three-year exit at a $300 million valuation represents a massive success for the founders and investors.
I continue to be baffled by this sale. Letterboxd was acquired by Tiny 3 years ago, Tiny’s entire premise is that they hold for the long term. Selling after 3 years is not long term. I don’t understand why Tiny would undermine their raison d’etre unless it’s because the founders (who retain a minority stake) are pushing for it.
Tiny just recently updated their website to emphasize how long they’ve owned each property which is especially confusing given they’re now offloading things https://tiny.com/companies/letterboxd
“Tiny's model — long-term ownership, founder autonomy, no pressure to …
It highlights the contradiction between the current holding company's stated long-term model and this rapid exit.
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